Phrank Shaibu, the Special Assistant on Public Communication to former Vice President Atiku Abubakar, has raised serious allegations against the All Progressives Congress (APC)-led Federal Government and Tinubu, claiming that it has quietly reintroduced petrol subsidy.

Tinubu
Tinubu

His accusations stem from recent reports by the International Monetary Fund (IMF) indicating that the Nigerian government has resumed making substantial monthly payments for petrol subsidies, exceeding almost N1 trillion.

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These reported figures surpass the monthly subsidy payments made during the tenure of former President Muhammadu Buhari.

In response to the controversy, Shaibu contends that the lack of a formal government response to these reports implies a diversion of public funds into private pockets.

He asserts that one of the reasons behind the Nigerian National Petroleum Company Limited’s (NNPCL) failure to deposit the required funds into the government’s account is due to the alleged siphoning of money under an undisclosed and covert petrol subsidy framework.

Shaibu specifically targets Bola Tinubu, a prominent political figure aligned with the ruling party, accusing him of falsely boasting about successfully eliminating the petrol subsidy.

According to Shaibu, these assertions by Tinubu have now been proven false, as he claims that the subsidy has made a surreptitious return, resulting in a distorted petrol pricing structure.

The former Vice President’s aide further alleges that the Finance Minister, Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, who claim to have secured their appointments based on expertise, have failed to address the situation adequately. Shaibu accuses them of allegedly covering up the petrol subsidy issue and maintaining silence.

Moreover, Shaibu claims that the current administration, which he associates with Bola Tinubu, is obstructing the commencement of the Dangote refinery.

This refinery, according to him, could potentially alleviate Nigeria’s foreign exchange demands. He contends that the government’s actions are hindering regulatory approvals for the Dangote Petrochemical Refinery’s plans, including the release of aviation fuel and diesel for sale in the Nigerian market.

Phrank Shaibu’s detailed statement raises serious concerns about the reported reinstatement of petrol subsidy, allegations of corruption, and their potential detrimental effects on Nigeria’s economy. His remarks also include criticisms of prominent figures and policymakers in the current administration.

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